Annual general meetings of listed companies are usually anodyne affairs. Older shareholders either sing the companies’ praises or quibble about the dividends on offer.

But when it’s India’s most valuable company, headed by the world’s sixth-richest person, there is a lot of interest from investors and the media. And not without reason.

At Reliance Industries Limited’s (RIL) 2019 AGM, chairman and managing director Mukesh Ambani  announced announced Moneycontrol RIL AGM 2019: Top announcements made by Reliance Industries CMD Mukesh Ambani Read more a stake sale in its oil-to-chemicals business to Saudi Aramco, and the launch date for its fibre-to-the-home broadband service.

This year’s AGM, to be held virtually today, comes on the heels of investments worth over Rs 1,18,000 crore Rs 1,18,000 crore Mint Qualcomm Ventures to invest ₹730 cr in Jio Platforms for 0.15% stake Read more ($16 billion) in its digital services subsidiary Jio Platforms, and the rollout rollout The Economic Times JioMart website goes live across 200 cities in India Read more of its online grocery service, JioMart, in 200 cities. In this context, some announcements about RIL’s retail business are expected.

RIL is also  reportedly reportedly The Times of India RIL nears deal to acquire retail biz of Future Group Read more in talks to acquire debt-laden Future Group’s retail businesses, including its flagship company, Future Retail, which runs the Big Bazaar chain of supermarkets. This will consolidate the market-leader position of Reliance Retail, India’s largest retail chain by revenue and network, in the largest of retail segments: food and grocery (F&G).

Should the deal go through, Reliance Retail would account for more than half of the organised F&G market. It will have twice the market share of India’s most valuable listed retailer, Avenue Supermarts, which operates the DMart chain of supermarkets.

At 4%, the penetration of organised players in F&G  is the lowest among all retail categories. This, even as F&G made up two-thirds of the Rs 51,00,000 crore ($675 billion) retail market in India in 2018, according to Technopak, a retail consultancy, and HDFC Securities. “If you want to look at absolute scale, there is no better retail segment,” says Devangshu Dutta, chief executive of retail consultancy Third Eyesight.

However, F&G is a notoriously difficult business, with gross margins as low as 12%, according to a December 2019  report report HDFC Securities Who’s moving the retail flywheel?

AUTHOR

Seetharaman G

Starting out as a business journalist in 2008, Seetharaman has written about energy, climate change, retail, banking, and technology. He has worked with Business Today, a fortnightly, and the Sunday edition of The Economic Times.

View Full Profile

Subscribe to read this story

The Ken is the only business subscription you need. Questions?

 

Premium

  • 5 original and reported longform business stories every week
  • Access to ONLY India edition
  • Close to 250 exclusive stories every year
  • Full access to over 5 years of paywalled stories
  • Pick up to 5 premium subscriber newsletters
  • 4 original and reported longform business stories each week
  • Access to ONLY Southeast Asia edition
  • Close to 200 exclusive stories every year
  • Full access to all paywalled stories since March 2020
  • Pick up to 5 premium subscriber newsletters

Rs. 2,750 /year

$ 120 /year

India Edition
Subscribe Subscribe
Most Asked For

Borderless

  • 8 original and reported longform business stories each week
  • Access to both India and Southeast Asia editions
  • Close to 400 exclusive stories every year
  • Full access to over 5 years of paywalled stories across India and Southeast Asia
  • Unlimited access to all premium subscriber newsletters
  • Visual Stories

Rs. 4,200 /year

Subscribe
 

Echelon

  • 8 original and reported longform business stories each week
  • Access to both India and Southeast Asia editions
  • Close to 400 exclusive stories every year
  • Full access to over 5 years of paywalled stories across India and Southeast Asia
  • Unlimited access to all premium subscriber newsletters
  • Visual Stories
  • Bonus annual gift subscription
  • Priority access to all new products and features

Rs. 8,474 /year

Subscribe
Or

Questions?

What kind of subscription plans do you offer?

We have three types of subscriptions
- Premium which gives you access to either the India or the Southeast Asia edition.
- Borderless which gives you complete access to The Ken across both editions
- Echelon which gives you complete access to The Ken across both editions along with a bonus gift subscription

What do I get if I subscribe?

The Premium edition gives you access to stories in that edition along with any five subscriber-only newsletters of your choice.

The Borderless and Echelon subscription gives you complete access to The Ken across editions and unlimited access to as many newsletters as you like.

What topics do you usually write about?

We publish sharp, original and reported stories on technology, business and healthcare. Our stories are forward-looking, analytical and directional — supported by data, visualisations and infographics. We use language and narrative that is accessible to even lay readers. And we optimise for quality over quantity, every single time.

Our specialised subscriber-only newsletters are written by our expert, award-winning journalists and cover a range of topics across finance, retail, clean energy, cryptocurrency, ed-tech and many more.

How many newsletters do you have?

We are constantly adding specialised subscriber-only newsletters all the time. All of these are written by our team of award-winning journalists on a specialised topic.

You can see the list of newsletters that we publish over here.

Does a Premium subscription to your Indian edition get me access to the Southeast Asia edition? Or vice-versa?

Afraid not. Each edition is separate with its own subscription plan. The India edition publishes stories focused on India. The Southeast Asia edition is focused on Southeast Asia. We may occasionally cross-publish stories from one edition to the other.

We recommend the Borderless or the Echelon Plan which will give you access to stories across both editions.

Do you have a mobile app?

Yes! We have a top-rated mobile app on both iOS and Android which allows you to read on-the-go and has some amazing features like the ability to bookmark stories, save on your device, dark mode, and much more. It’s really the best way to read The Ken.

Is there a free trial?

You can sign up for a free account to experience The Ken and understand our products better. We’ll send you some free stories and newsletters occasionally, and you can access our archive of previously published free stories. You can stay on the free account as long as you’d like.

The vast majority of our stories, articles and newsletters can be accessed only by a paid subscription.

Do you offer any discounts?

Sorry, no. Our journalism is funded completely by our subscribers. We believe that quality journalism comes at a price, and readers trust and pay us so that we can remain independent.

Do you offer refunds?

No. We allow you to sample our journalism for free before signing up, and after you do, we stand by its quality. But we do not offer refunds.

I am facing some trouble purchasing a subscription. What can I do?

Just write to us at [email protected] with details. We’ll help you out.

I have a few more questions. How can I reach out to you?

Sure. Just email us at [email protected] or follow us on Twitter.